"Cryptocurrencies have had a profound effect on financial markets worldwide. The edited book aims to explore the economic implications of the use of cryptocurrencies. Drawing from chapter contributors from around the world, the book will be a valuable resource on the economics o…
"Using simple but rigorously defined mathematical models, Thomas Quint and Martin Shubik explore monetary control in a simple exchange economy. Examining how money enters, circulates, and exits an economy, they consider the nature of trading systems and the role of government au…
One of the outstanding monetary theorists of the past 100 years, Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange. These 21 papers, published 1972-2007, cover core monetary theory and public finance, ass…
The Theory of Monetary Institutions analyzes the often overlooked - but fundamental - questions about monetary policy regimes: How and why have monetary institutions - central banks, clearinghouses, commercial banks, and money itself - evolved into their present forms? What are …
Challenging the validity of much of mainstream monetary macroeconomics, this text argues that the money supply in modern economies is not under the control of banks, but is determined by borrower demand for bank credit. It then explores the implications of this on conventional m…
Since the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena that are alien to mainstream macroeconomic models. Financial crises are systemic, occurring simultaneously in di…
